Industry News

Survive the storm and make money too

Part 1: Weathering a real estate downturn

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: Some local real estate markets nationwide are seeing signs of change: increased listings inventory, increased days on the market, and more highly motivated sellers than in past years. Experienced real estate professionals say there's no need to panic as long as you're prepared. In this three-part series, we sought advice from industry veterans about how to survive and thrive in a changing real estate market. (See Part 2: Brokerage companies scramble for market share and Part 3: How top agents plan to stay on top.) The boom in home sales has netted record transactions, record house prices, hordes of amateur real estate investors and a slew of new realty agents, some of whom have never experienced a slow market – or even a normal one. Experts say not all agents will make it through a down cycle, if there is one. Many are predicting that markets are poised to cool from record highs of the last few years, and some local markets are already seeing the scales tip....